Bankers expect an end to the dollar’s growth on the gray market.
Tuesday, August 2, 2022

Bankers expect an end to the dollar’s growth on the gray market.

The rising dollar exchange rate trend on the gray market is triggered by panic and cannot last long, said Ukrainian bankers for the Interfax-Ukraine survey. “The situation in the cash market seems to have been provoked by panic reactions, which, in turn, significantly intensified after overcoming the psychological limit of UAH 40 per $1. In the gray market, sellers are testing new levels every day and have not encountered a fall in demand yet. Of course, such trends cannot continue for a long time. Still, it is difficult to say at what point the growth will stop and how deep the further correction will be,” said Anna Zolotko, director of the treasury operations department of Unex Bank. In her opinion, the gray rate will not affect the interbank rate or the revision of the fixed rate by the National Bank of Ukraine.

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